Netflix is the new black

With over 50 million members in 40 countries globally, how are Reed Hastings and the team so successful? ‘Broadcast TV is like the landline of 20 years ago.’

They listen to and understand consumer needs in a way that feels like freedom.

They have listened to the roar of the world with regards to piracy and the consumer’s immediate need for content – when they want, in a format they want, at a price they like.

Key insights:

People have a strong desire to control their own time.

Living around a pre-programmed television schedule television will soon die out entirely.

People are increasingly comfortable about living their lives online (and on multiple screens at once!).

These key insights are allowing Netflix to be at the forefront of content distribution and engage with their consumers at a high and intimate level.

Eventually, Netflix will have a globalised content market where product is released at the same time globally for around about the same price. This will break down barriers of piracy, which has been a dark cloud over the film/TV business for the past few years. Kevin Spacey sums it up ever so clearlyhere.

All brands could take some tips from this content giant when it comes to assessing their own consumers, the concept of yielding control and the power of truly listening.

Specific needs… What are they?

What’s their day-to-day life like?

Are you genuinely helping or improving?

Are you keeping a watchful eye on the future?

We are increasingly engaging in different ways and it’s morphing every single day in ways yet to be imagined.